PE: a negative trend for the Italian market in the first 09 months
In 2008, increased operations of Private Equity (+27%) and value (+40% of investments in leveraged buy out) in contrast to the sharp decline in European (-60% values 19% invested and operations). However, it should also be noted that the first months of 2009 are giving signs of a signicative negative trend.
According to the results of a PE and LBO research from Sda Bocconi, in 2008 the Italian market showed a good state of health, especially when compared with the main EU markets.
The authors emphasize that 2009 shows a trend in stark contrast due to the structural effects of the credit crunch.
The study also shows that 76% of the leveraged buy out in 2008 is concentrated in the mid-market (companies’ target with enterprise value between 50-250 million euros) and in the lower mid-market (10-50 million) and that in about 55% of the cases have involved companies’ target with turnover between 10 and 100 million euros.
Italy is confirmed as a market focus to a greater extent on small and mid-end market. The total value of transactions and ’instead concentrate for 64% in big bands and large (ie over 500 million euros)

Wednesday 20 August 2008

Category: Private Equity

Parmalat: a probable target for PE
According to "Ilsole24ore", Parmalat is in some of the major private equity funds interests. These are apparently studying the memorandum and rumors-still unconfirmed-suggest a possible company takeover. Also banks would have request the dossier and initiated contacts with shareholders to study possible operations. The same are apparently doing some PE funds. The reason for so much interest are the hard numbers and the shareholding structure: Parmalat capitalise on the stock exchange more than €3B having in cash €1,2B, which could grow more than 2 billion, with the eventual compensation from Citigroup.

Friday 08 August 2008

Category: Private Equity

Carlyle PE enter in Moncler
Carlyle enter with a share of 48% in Moncler, which is also owner of the Henry’s Cotton and Marina Yachting. Moncler financial partners, Mittel PE, Progressio Investment Fund and Istituto Atesino di Sviluppo will reduce their participations from 61 to 14%, while Remo Ruffini will maintain, through the Ruffini Group, a share of 38% continuing to chair the Moncler biz.